Summit Financial LLC Acquires New Position in Carlisle Companies Incorporated $CSL

Key Points

• Summit Financial LLC has made a new investment of approximately $2.25 million in Carlisle Companies, acquiring 6,610 shares of the stock.
• Carlisle Companies' last earnings report showed a miss on earnings per share at $6.27, lower than the consensus estimate of $6.67, with a revenue decrease of 0.1% year-over-year.
• The company's board declared a quarterly dividend of $1.10, up from $1.00, indicating a 24.58% dividend payout ratio.

Summit Financial LLC purchased a new stake in Carlisle Companies Incorporated (NYSE:CSL - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,610 shares of the conglomerate's stock, valued at approximately $2,251,000.

A number of other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Carlisle Companies by 4.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,148,796 shares of the conglomerate's stock valued at $394,244,000 after purchasing an additional 49,102 shares during the last quarter. Madison Asset Management LLC boosted its holdings in shares of Carlisle Companies by 28.2% in the 1st quarter. Madison Asset Management LLC now owns 515,134 shares of the conglomerate's stock valued at $175,403,000 after purchasing an additional 113,312 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Carlisle Companies by 38,164.5% in the 1st quarter. GAMMA Investing LLC now owns 507,005 shares of the conglomerate's stock valued at $172,635,000 after purchasing an additional 505,680 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Carlisle Companies by 8.4% in the 1st quarter. Bessemer Group Inc. now owns 504,790 shares of the conglomerate's stock valued at $171,880,000 after purchasing an additional 39,329 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Carlisle Companies by 11.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 499,341 shares of the conglomerate's stock valued at $170,017,000 after purchasing an additional 50,578 shares during the last quarter. Institutional investors and hedge funds own 89.52% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CSL. Loop Capital lowered shares of Carlisle Companies from a "buy" rating to a "hold" rating and reduced their target price for the company from $430.00 to $395.00 in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Carlisle Companies from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Carlisle Companies in a report on Tuesday, June 24th. They set an "overweight" rating and a $500.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $450.83.

Carlisle Companies Stock Down 0.6%

CSL stock traded down $2.21 during trading on Wednesday, reaching $390.79. The stock had a trading volume of 368,787 shares, compared to its average volume of 457,248. Carlisle Companies Incorporated has a 1-year low of $311.41 and a 1-year high of $481.26. The company has a current ratio of 2.19, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $16.71 billion, a P/E ratio of 21.83, a PEG ratio of 1.26 and a beta of 1.05. The firm has a fifty day moving average price of $389.29 and a 200 day moving average price of $369.96.

Carlisle Companies (NYSE:CSL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The conglomerate reported $6.27 EPS for the quarter, missing analysts' consensus estimates of $6.67 by ($0.40). Carlisle Companies had a return on equity of 38.16% and a net margin of 16.12%.The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $6.24 EPS. The business's quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that Carlisle Companies Incorporated will post 22.31 earnings per share for the current year.

Carlisle Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a $1.10 dividend. This is a boost from Carlisle Companies's previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 19th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. Carlisle Companies's dividend payout ratio (DPR) is currently 24.58%.

Carlisle Companies Company Profile

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.